In highly unusual move, the palace has formally denounced the film for a second time, calling it a "farce." The movie's recently released trailer, the children of film star turned princess Grace Kelly say, reveals the "totally fictional nature of this film."

"On the occasion of the upcoming screening of the film Grace of Monaco at the opening of the Cannes Festival on May 14 2014 and its release in theaters, the Prince's Palace would like to reiterate that this feature cannot under any circumstances be classified as a biopic," a press release sent from the palace early Friday said.

The film's trailer, the statement continues, "appears to be a farce and confirms the totally fictional nature of this film. It reinforces the certainty, left after reading the script, that this production, a page of the Principality's history, is based on erroneous and dubious historical references. The director and producers refused to take into consideration the many observations made by the Palace because these called into question the entire script and the characters of the film.

"The Princely family does not in any way wish to be associated with this film which reflects no reality and regrets that its history has been misappropriated for purely commercial purposes," the statement concludes.

The film, from La Vie en Rose director Olivier Dahan, has been plagued with controversy. It has not only been a source of royal displeasure but has run afoul of its American distributor. Reports suggest the Weinstein Company sought a re-edited version for U.S. screens, which Dahan refused to deliver. The film company pushed back its scheduled release, and wide U.S. distribution is currently uncertain.

Announcing the festival slate earlier this month, Cannes organizers acknowledged the controversies nagging Grace. Cannes, they said, "has always been a director's festival," and the film would be screened as scheduled in its "directorial and only" version.